Page 236 - Pakistan Oilfield Limited - Annual Report 2022
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PAKISTAN OILFIELDS LIMITED
Notes to and Forming Part of the -
Consolidated Financial Statements
For the year ended June 30, 2022
2022 2021
Rupees ('000)
22. ADVANCES, DEPOSITS, PREPAYMENTS AND
OTHER RECEIVABLES
Loans and advances - considered good
Employees - note 18 30,023 22,329
Suppliers 387,618 183,561
417,641 205,890
Trade deposits and short term prepayments
Deposits 75,532 122,872
Short-term prepayments 172,404 488,586
247,936 611,458
Interest income accrued 248,977 174,767
Other receivables
Joint operating partners 313,169 154,659
Due from related parties
Parent company
The Attock Oil Company Limited 82,657 77,446
General Staff Provident Fund - 10,196
Staff Provident Fund - 10,571
Gratuity Fund - note 38 226,505 185,791
Sales tax refundable 3,141,897 2,566,859
Other receivables (net of loss allowance of
Rs 310 thousand (2021: Rs 310 thousand)) 18,829 16,752
3,783,057 3,022,274
4,697,611 4,014,389
22.1 The maximum aggregate amount due from related parties at the end of any month during the year
was Rs 82,657 thousand (2021: Rs 77,446 thousand) respectively.
2022 2021
Rupees ('000)
22.2 The ageing analysis of receivable from related parties is as
follows:
Upto 3 month 82,657 77,446
3 to 6 month - -
More than 6 month - -
82,657 77,446
23. Short term investments - at amortised cost
This amount was invested in market treasury bills (The Government of Pakistan) through Faysal
Bank Limited. This amount has matured during current year. The effective interest rate was 7.44%
to 12.91% per annum (2021 : 7.05% to 8.35% per annum).